ESAB Co. (NYSE:ESAB) Receives $108.29 Average Target Price from Analysts

ESAB Co. (NYSE:ESAB) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $108.57.

ESAB has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Bank of America increased their price objective on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Evercore ISI lowered their target price on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. Stifel Nicolaus cut their price target on ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Oppenheimer initiated coverage on ESAB in a report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price target on the stock.

Institutional Trading of ESAB

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in shares of ESAB by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company’s stock valued at $710,316,000 after purchasing an additional 653,377 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in ESAB by 5.5% during the 1st quarter. DAVENPORT & Co LLC now owns 811,679 shares of the company’s stock valued at $89,422,000 after buying an additional 42,099 shares in the last quarter. Eagle Asset Management Inc. increased its stake in ESAB by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 562,488 shares of the company’s stock worth $48,723,000 after acquiring an additional 1,513 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of ESAB by 5.4% during the 2nd quarter. TD Asset Management Inc now owns 531,122 shares of the company’s stock worth $50,154,000 after acquiring an additional 27,202 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ESAB by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 499,597 shares of the company’s stock valued at $43,275,000 after acquiring an additional 9,658 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Stock Performance

ESAB opened at $103.75 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.01 and a debt-to-equity ratio of 0.59. The company has a market cap of $6.27 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 1.71 and a beta of 1.42. The company’s 50 day moving average is $96.81 and its 200 day moving average is $100.49. ESAB has a 12-month low of $61.43 and a 12-month high of $114.77.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Friday, August 2nd. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $707.10 million for the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that ESAB will post 4.9 EPS for the current year.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.